At this point could BTCE just mint and endlessly dump…even though it doesn’t matter…
as I understand it, only about 1/3 or less people are minting, and there are about 20M coins out thier so BTCE could be minting with about 10~20% of all coins minting if they chose to.
Hopefully a significant amount of people will move to B&C exchange if it succeeds in being built. The dependency on btc-e is not healthy for Peercoin.
BTC-E won’t risk their PPC in an unencrypted hot wallet. But if cold wallet minting is implemented they will certainly mint and this could indeed become problematic.
Like Sentinelrv said, B&C ftw. If this projects becomes successful I will not risk my coins on any non-decentralized trading platform anymore.
Yes indeed. A major reason to support the B&C project. Also I suspect that decentralized trading platform will emerge as defacto way to get currencies in the future!
Why? Because capital controls will start to be applied to crypto currency exchanges. Since it’s difficult to regulate the Bitcoin protocol, what governments are doing is regulating the gateways. This “choke points” they can control.
Now let’s put it in context. As the economic environment turns down this year or next, the state will demand even more taxes and actually they are even talking about abolishing cash. So… what will happen is that institutional money will flow into regulated crypto exchanges and derivatives. People on the street trying to escape capital controls will turn to decentralized exchanges to trade between not only different AltCoins but also trades crypto shares (like NuShares etc). Basically, once you’re inside “you wont exit”. EDIT: Please note that I’m of course not encouraging these kinds of actions and would’t do it myself (and have no need). But it requires little imagination to see this kind of development. Think Argentina, Cyprus, etc…
Centralized exchanges that does not offer fiat deposits and other ties to legacy banking will be outcompeted by B&C. Shapeshift probably has it’s place, but in the long run they will also be threatened because B&C will be able to offer at less premium.